tomo logo

$244,900

Beds
3
Baths
2.0
sq ft
1,206

516 Bailey Ln, Salisbury, MD 21801

516 Bailey Ln

SALISBURY, MD 21801

  • Pending
    • Price drop $5,000↓
This beautiful rancher was just built in 2021 so everything is LIKE NEW (but without the brand new price)! With 3 bedrooms and 2 full baths, this one is sure to be the perfect fit for someone who wants an affordable, move-in ready home. As you enter the home, you are greeted by a cozy and inviting living room. Down the hall leads to the rest of the home with the primary bedroom to your right with its spacious en-suite bathroom and then the 2nd full bath and two more bedrooms. The kitchen and dining area is an open concept with modern touches and all stainless appliances. There is a rear deck with ample room to enjoy entertaining outside. Don’t miss this great opportunity! Schedule your showing today!

Details

Property type

Single Family Residence

Est. home value

$229,369

Lot size

8,450 sq ft

Price per sq ft

$204

Year built

2021

Annual property taxes

$1,824

HOA

No

Price History

12/22/2024
Bright

Bright #MDWC2015690

Pending
$244,900
12/06/2024
Bright

Bright #MDWC2015690

Price change
$244,900
-2%
11/22/2024
Bright

Bright #MDWC2015690

Price change
$249,900
-1.96%

Schools & Community

Neighborhood: 

West Side

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

School district: 

WICOMICO COUNTY PUBLIC SCHOOLS

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$63,270
Asking price
$244,900
Closing costs (~8% of asking)
-$19,592
Est. remaining loan balance
-$162,038
Cash to seller
$63,270

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Mclean Mortgage Corp

Loan start date

May 2021

Original loan amount

$175,060

Est. remaining balance

$162,038

Interest rate

3.13%

Loan type

FHA, 30 year

Seller

Eric R Hodd

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Pending/Under Contract

Tomo last checked: 12/26/2024 at 7:00 AM

Listing updated: 12/21/2024 at 9:29 PM

Listed by: Ryan Basch, RE/MAX Advantage Realty Phone #: (410) 871-2600

MLS: Bright #MDWC2015690

Bright logo

Recently listed in SALISBURY

$239,900|3 bd|1.0 ba|House
$372,990|4 bd|2.5 ba|House
$234,900|3 bd|2.5 ba|House
$249,000|3 bd|1.0 ba|House
$379,900|3 bd|2.0 ba|House
$234,990|3 bd|2.5 ba|Townhouse
$299,900|4 bd|2.0 ba|House

Explore top cities in Maryland